Biogen Inc. (NASDAQ:BIIB) Receives Average Rating of “Hold” from Brokerages

Biogen Inc. (NASDAQ:BIIB) has been assigned an average rating of “Hold” from the thirty-two analysts that are presently covering the company, Marketbeat.com reports. Twenty analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $188.19.

BIIB has been the subject of several research analyst reports. Truist Financial lowered their price objective on shares of Biogen from $210.00 to $199.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Mizuho lowered their price objective on shares of Biogen from $207.00 to $169.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Robert W. Baird decreased their price target on shares of Biogen from $300.00 to $255.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, HC Wainwright decreased their price target on shares of Biogen from $241.00 to $187.00 and set a “buy” rating for the company in a research note on Friday, May 2nd.

Biogen Stock Performance

NASDAQ:BIIB opened at $127.04 on Friday. The company has a fifty day moving average of $124.83 and a 200-day moving average of $136.25. The firm has a market capitalization of $18.62 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.00 and a beta of 0.14. The company has a quick ratio of 1.01, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. Biogen has a twelve month low of $110.04 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a net margin of 15.07% and a return on equity of 14.03%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.67 EPS. As a group, sell-side analysts anticipate that Biogen will post 15.83 EPS for the current year.

Hedge Funds Weigh In On Biogen

A number of hedge funds have recently bought and sold shares of BIIB. Norges Bank purchased a new position in Biogen during the 4th quarter worth $355,569,000. AQR Capital Management LLC boosted its holdings in shares of Biogen by 153.6% in the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock worth $187,258,000 after buying an additional 829,150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Biogen by 1,663.4% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock worth $106,813,000 after buying an additional 736,301 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock worth $325,537,000 after buying an additional 499,074 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Biogen by 63.7% in the 4th quarter. Deutsche Bank AG now owns 1,169,570 shares of the biotechnology company’s stock worth $178,851,000 after buying an additional 455,285 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.